Financial Performance - For the nine months ended September 30, 2023, the group recorded revenue of approximately RMB 1,082,492,000, a decrease of 1.5% compared to the same period last year [3]. - The gross profit for the same period was approximately RMB 748,329,000, an increase of 8.3% year-on-year, with a gross margin of 69.1% [4]. - The operating loss for the nine months was approximately RMB 31,735,000, a significant reduction of 93.8% compared to the operating loss of RMB 510,487,000 in the previous year [4]. - For the three months ended September 30, 2023, the group recorded revenue of approximately RMB 358,198,000, a decrease of 3.1% year-on-year [4]. - The gross margin for the three months increased to 68.9%, up from 67.5% in the same period last year [4]. - The operating loss for the three months was approximately RMB 20,470,000, a decrease of 43.7% compared to the operating loss of RMB 36,375,000 in the previous year [4]. - The total comprehensive loss for the nine months was approximately RMB 41,349,000, compared to RMB 508,450,000 in the previous year [8]. - The company reported a profit of approximately RMB 16,162,000 for the nine months ending September 30, 2023, compared to a loss of RMB 265,612,000 for the same period in 2022 [25]. - The company reported a net loss of RMB 414,000 for the nine months ending September 30, 2023, compared to a net loss of RMB 1,397,000 for the same period in 2022 [28]. Revenue Breakdown - The revenue from merchant solutions for the nine months ended September 30, 2023, was RMB 447.873 million, an increase of 4.0% from RMB 430.513 million for the same period in 2022 [15]. - For the three months ended September 30, 2023, the revenue from subscription solutions was RMB 209.665 million, a decrease of 5.0% compared to RMB 221.777 million for the same period in 2022 [14]. - Subscription solutions revenue for the nine months ended September 30, 2023, was RMB 631,931 thousand, down 4.4% from RMB 660,974 thousand in the same period of 2022 [37]. - Merchant solutions revenue increased by 4.0% to RMB 447,873 thousand for the nine months ended September 30, 2023, compared to RMB 430,513 thousand in the same period of 2022 [37]. Expenses and Costs - Total sales cost for the reporting period was approximately RMB 334,163 thousand, a decrease of 18.1% from RMB 408,049 thousand, mainly due to a 25.8% reduction in labor costs [40]. - Selling expenses decreased by 23.6% to approximately RMB 496,466 thousand, primarily due to a reduction in sales personnel [45]. - Administrative expenses decreased by 53.6% to approximately RMB 115,825 thousand, mainly due to a reduction in administrative staff and one-time severance payments [45]. - Research and development expenses for Q3 2023 were RMB 50,432 thousand, down from RMB 57,869 thousand in Q3 2022, indicating a reduction of about 12.5% [20]. Shareholder Information - The total number of issued shares as of September 30, 2023, was 18,421,642,097 [27]. - The company reported a basic earnings per share attributable to the owners of the company for the nine months ended September 30, 2023, was RMB 0.0009, compared to a loss per share of RMB 0.0151 for the same period in 2022 [12]. - The company did not recommend any dividend payment for the nine months ended September 30, 2023 [4]. - The company’s accumulated losses reached RMB 4,495,355,000 as of September 30, 2023, an increase from RMB 4,511,049,000 [28]. Corporate Governance - The company has complied with the GEM Listing Rules regarding corporate governance, except for a deviation concerning the separation of the roles of Chairman and CEO [61]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the nine months ending September 30, 2023, confirming compliance with applicable accounting standards [62]. - The company has maintained a high level of corporate governance to protect shareholder interests [61]. Strategic Initiatives - The company has plans to expand its market presence and enhance product offerings in the upcoming quarters, focusing on technological advancements and strategic partnerships [16]. - The company is actively exploring the integration of artificial intelligence technology with its SaaS products to lower the learning curve for merchants and enhance operational efficiency [35]. - In the third quarter of 2023, the company established a "Key Account Service Department" to enhance service for top clients and improve operational efficiency [35].

Financial Performance - For the nine months ended September 30, 2023, the group recorded revenue of approximately RMB 1,082,492,000, a decrease of 1.5% compared to the same period last year[3]. - The gross profit for the nine months ended September 30, 2023, was approximately RMB 748,329,000, an increase of 8.3% year-on-year[4]. - The gross margin increased to 69.1% for the nine months ended September 30, 2023, compared to 67.5% in the same period last year[4]. - The operating loss for the nine months ended September 30, 2023, was approximately RMB 31,735,000, a significant reduction of 93.8% from the operating loss of RMB 510,487,000 in the previous year[4]. - For the three months ended September 30, 2023, the group recorded revenue of approximately RMB 358,198,000, a decrease of 3.1% year-on-year[4]. - The gross profit margin for the three months ended September 30, 2023, improved to 68.9%, up from 67.5% in the same period last year[4]. - The operating loss for the three months ended September 30, 2023, was approximately RMB 20,470,000, a decrease of 43.7% from the operating loss of RMB 36,375,000 in the previous year[4]. - The total comprehensive loss for the nine months ended September 30, 2023, was RMB 41,349,000, compared to RMB 508,450,000 for the same period in 2022, indicating a significant reduction in losses[8]. - The company reported a profit of approximately RMB 16,162,000 for the nine months ended September 30, 2023, compared to a loss of RMB 265,612,000 for the same period in 2022[25]. - The company reported a total comprehensive loss of RMB (28,531,000) for the three months ended September 30, 2023, compared to RMB (31,775,000) for the same period in 2022, showing a 7% decrease in losses[8]. Revenue Breakdown - Subscription solutions revenue for the nine months ended September 30, 2023, was RMB 631,931 thousand, down 4.4% from RMB 660,974 thousand in the same period of 2022[15]. - The total revenue from merchant solutions for the nine months ended September 30, 2023, was RMB 447,873 thousand, an increase of 4.0% from RMB 430,513 thousand in the same period of 2022[15]. - Merchant solutions revenue increased by 4.0% to RMB 447,873 thousand for the nine months ended September 30, 2023, compared to RMB 430,513 thousand in the same period of 2022[37]. - Subscription solutions revenue decreased by 4.4% to approximately RMB 631,931 thousand from RMB 660,974 thousand due to a decline in the number of paying merchants[38]. Expenses and Costs - Research and development expenses for the nine months ended September 30, 2023, were RMB 156,272 thousand, a decrease of 42.4% from RMB 271,086 thousand in the same period of 2022[20]. - Total sales cost decreased by 18.1% to approximately RMB 334,163 thousand from RMB 408,049 thousand, mainly due to a 25.8% reduction in labor costs[40]. - Selling expenses decreased by 23.6% to approximately RMB 496,466 thousand, primarily due to a reduction in sales personnel[45]. - Administrative expenses decreased by 53.6% to approximately RMB 115,825 thousand, mainly due to a reduction in administrative staff and one-time severance payments[45]. - Other operating expenses decreased by 42.8% to approximately RMB 156,341 thousand, attributed to optimized R&D spending and organizational restructuring[45]. Assets and Liabilities - The company’s total assets as of September 30, 2023, were RMB 1,305,858,000, compared to RMB 1,258,694,000 as of December 31, 2022, indicating growth in asset base[12]. - The company’s total liabilities as of September 30, 2023, were RMB 128,090,000, compared to RMB 140,069,000 as of December 31, 2022, showing a decrease in liabilities[12]. Shareholder Information - The total number of issued shares as of September 30, 2023, was 18,421,642,097 shares[27]. - The company did not recommend any dividend payment for the nine months ended September 30, 2023, consistent with the previous year[27]. - As of September 30, 2023, Whitecrow Investment holds 1,440,601,703 shares, representing 7.82% of the company's equity[59]. - Poyang Lake Investment Limited, a wholly-owned subsidiary of Tencent Holdings, holds 1,036,766,038 shares, accounting for 5.63% of the company's equity[60]. Corporate Governance and Compliance - The company has adhered to the GEM Listing Rules regarding corporate governance, except for a deviation concerning the roles of the Chairman and CEO[61]. - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the nine months ending September 30, 2023, confirming compliance with applicable accounting standards[62]. Strategic Initiatives - The company plans to continue its market expansion and product development strategies to enhance revenue growth in the upcoming quarters[18]. - The company established a "Key Account Service Department" to enhance service for top clients and improve operational efficiency[35]. - The company is actively exploring the integration of artificial intelligence technology with its SaaS products to enhance user experience and operational efficiency[35]. - The company aims to continue focusing on core customer groups for market expansion and improving customer retention rates to optimize operational results[36].

Financial Performance - For the six months ended June 30, 2023, the group recorded revenue of approximately RMB 724,294,000, a decrease of 0.7% compared to the same period last year[3]. - Subscription solutions revenue was approximately RMB 422,266,000, down 3.9% year-on-year, while merchant solutions revenue increased by 5.7% to approximately RMB 300,029,000[3]. - The gross profit for the six months was approximately RMB 501,396,000, representing a 13.6% increase year-on-year, with a gross margin rising from 60.5% to 69.2%[4]. - The operating loss for the six months was approximately RMB 11,265,000, a significant reduction of 97.6% compared to the operating loss of RMB 474,112,000 in the same period last year[4]. - The net loss for the six months was RMB 18,416,000, compared to a net loss of RMB 485,088,000 in the same period last year[8]. - The total comprehensive loss for the period was RMB (1,819,000), compared to RMB (121,554,000) in the same period last year[9]. - Total revenue for the six months ended June 30, 2023, was RMB 724,294,000, a slight decrease from RMB 729,275,000 in the same period of 2022[46]. - The company reported a segment profit of RMB 2,813,000 for the six months ended June 30, 2023, compared to a segment loss of RMB 460,696,000 in the same period of 2022[46]. - The company incurred a comprehensive loss before tax of RMB 22,519,000 for the six months ended June 30, 2023, significantly improved from a loss of RMB 487,575,000 in the same period of 2022[44]. Cash Flow and Assets - The cash and cash equivalents totaled approximately RMB 840,299,000, with a current ratio of 1.05[4]. - The company reported a net cash outflow from operating activities of RMB (7,317) thousand for the six months ended June 30, 2023, compared to RMB (558,568) thousand for the same period in 2022, indicating a significant improvement[17]. - Cash and cash equivalents at the end of the period were RMB 840,299 thousand, slightly up from RMB 831,809 thousand at the end of June 2022[17]. - As of June 30, 2023, total assets amounted to RMB 4,335,018 thousand, a decrease from RMB 4,951,702 thousand as of December 31, 2022, representing a decline of approximately 12.4%[10]. - The company’s total assets as of June 30, 2023, were RMB 1,301,997,000, showing a slight increase from RMB 1,258,782,000 as of December 31, 2022[20]. - The company’s total liabilities as of June 30, 2023, were RMB 133,015,000, compared to RMB 142,558,000 as of December 31, 2022, indicating a reduction in liabilities[20]. - The total assets of the company as of June 30, 2023, amounted to RMB 5,721,920,000, with significant contributions from various segments[46]. Revenue Segmentation - The total revenue from external customers in the merchant services segment was RMB 568,147 thousand for the six months ended June 30, 2023, compared to RMB 573,882 thousand in the same period of 2022, reflecting a decrease of 1.0%[35]. - Subscription solutions generated revenue of RMB 216,547 thousand for the three months ended June 30, 2023, compared to RMB 219,283 thousand in the same period of 2022, reflecting a decrease of 1.0%[34]. - Merchant solutions revenue increased to RMB 151,857 thousand for the three months ended June 30, 2023, up from RMB 144,468 thousand in the same period of 2022, marking a growth of 5.0%[34]. - The company reported external customer revenue of RMB 729,275,000, with notable contributions from third-party payment services and merchant services[46]. Expenses and Cost Management - The company’s total operating expenses for the six months ended June 30, 2023, were RMB 30,429 thousand, compared to RMB 26,965 thousand in the same period of 2022, indicating an increase of 12.3%[39]. - Selling expenses decreased by 30.2% to approximately RMB 331,075,000, down from RMB 474,620,000, mainly due to a reduction in sales personnel and channel commission expenses[80]. - Administrative expenses decreased by 64.2% to approximately RMB 69,869,000, down from RMB 195,039,000, primarily due to a one-time severance payment in the previous year[80]. - Other operating expenses decreased by 50.3% to approximately RMB 105,909,000, down from RMB 213,310,000, attributed to optimized R&D spending and organizational restructuring[80]. Shareholder and Corporate Governance - The total issued share capital of the company remained at 18,421,642,097 shares as of June 30, 2023[63]. - Major shareholders include Whitecrow Investment Ltd. with a 7.82% stake and Poyang Lake Investment Limited, a subsidiary of Tencent Holdings, with a 5.63% stake[91][92]. - The company reported that as of June 30, 2023, the total equity held by directors and senior management was approximately 1,932,771,804 shares, representing 10.49% of total equity[87]. - The audit committee reviewed the unaudited interim results announcement for the six months ended June 30, 2023, and found it compliant with applicable accounting standards and GEM listing rules[101]. - The company has adhered to the corporate governance code except for a deviation regarding the separation of the roles of chairman and CEO, which is deemed appropriate under the circumstances[101]. Strategic Initiatives and Future Outlook - The company aims to enhance operational efficiency and improve cash flow for sustainable long-term development in 2023[71]. - The company launched its first AI product "Jia Wo Intelligent," which supports promotional content generation and event planning[70]. - The group reported a decrease in related party revenue from RMB 3,134,000 in the first half of 2022 to RMB 1,546,000 in the first half of 2023[67]. - The company has allocated approximately HKD 30.9 million for potential strategic investments and acquisitions, which has also been fully utilized[84]. - The company has not reported any significant events after the reporting period[85].

香港交易及結算所有限公司以及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：8083） 截至二零二三年六月三十日止六個月之中期業績公告 中國有贊有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬公司截 至二零二三年六月三十日止六個月之未經審核中期業績。本公告載列本公司二零二三年中期 報告全文，符合香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）內有關中期業 績初步公告附載資料之相關規定。 承董事會命 中國有贊有限公司 主席 朱寧 香港，二零二三年八月九日 於本公告日期，董事會由四名執行董事朱寧先生、崔玉松先生、俞韜先生及應杭艷女士；以及 三名獨立非執行董事方志華博士、鄧濤先生及李少傑先生組成。 本公告之資料乃遵照GEM上市規則而刊載，旨在提供有關本公司之資料；董事願就本公告之 資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知及所信，本公 告所載資料在各重要方 ...

CHINA YOUZAN 08083.HK 第一季度業績報告 2023 做生意 中國有贊有限公司 CHINA YOUZAN LIMITED 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所 主板上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛 在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之 證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的 市場。 香港交易及結算所有限公司及香港聯合交易所有限公司對本報告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本報告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關 中國有贊有限公司（「本公司」，連同其附屬公司統稱「本集團」、「有贊」或「我們」）的 資料；本公司的董事（「董事」）願就本報告的資料共同及個別地承擔全部責任。各董 事在作出一切合理查詢後，確認 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部分 內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：8083） 截至二零二三年三月三十一日止三個月之 第一季度業績公告 中國有贊有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬公司截 至二零二三年三月三十一日止三個月之未經審核第一季度業績。本公告載有本公司二零二三 年第一季度報告全文，符合香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）中 有關第一季度業績初步公告附載資料之相關要求。 承董事會命 中國有贊有限公司 主席 朱寧 香港，二零二三年五月十日 於本公告日期，董事會由四名執行董事朱寧先生、崔玉松先生、俞韜先生及應杭艷女士；以及 三名獨立非執行董事方志華博士、鄧濤先生及李少傑先生組成。 本公告之資料乃遵照GEM上市規則而刊載，旨在提供有關本公司之資料；董事願就本公告之 資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知及所信，本 ...

Financial Performance - Revenue for 2022 decreased by 4.7% to RMB 1,496,977 thousand compared to RMB 1,569,991 thousand in 2021[11] - Gross profit increased by 1.0% to RMB 961,922 thousand in 2022 from RMB 952,263 thousand in 2021[11] - Gross profit margin improved to 64.3% in 2022 from 60.7% in 2021[11] - Loss before tax significantly reduced by 79.8% to RMB (658,407) thousand in 2022 from RMB (3,251,782) thousand in 2021[11] - Loss for the year attributable to owners of the company decreased by 80.4% to RMB (645,760) thousand in 2022 from RMB (3,293,020) thousand in 2021[11] - Adjusted loss before interest, tax, depreciation, and amortization (unaudited) decreased by 87.9% to RMB (303,089) thousand in 2022 from RMB (2,509,498) thousand in 2021[11] - Adjusted non-HKFRS loss for the year (unaudited) decreased by 61.3% to RMB (339,537) thousand in 2022 from RMB (876,549) thousand in 2021[11] - Total assets decreased by 4.6% to RMB6,559,725,000 in 2022 compared to RMB6,872,975,000 in 2021[12] - Non-current liabilities decreased significantly by 40.1% to RMB262,833,000 in 2022 from RMB438,828,000 in 2021[12] - Adjusted EBITDA in Q4 2022 was approximately RMB7.15 million[18] - Adjusted EBITDA in Q4 2022 was approximately RMB7.15 million[33] - Sales expense ratio decreased quarter-on-quarter, and R&D expenses decreased year-on-year in 2022[33] - Cash balances achieved consecutive quarterly growth in Q3 and Q4 2022[33] - Net cash balance showed consecutive growth in Q3 and Q4 2022[18] - The company's revenue in 2022 was approximately RMB1,496,977,000, a 4.7% decrease year-on-year, primarily due to a decline in subscription solutions revenue[54][57] - Revenue from subscription solutions decreased by 8.6% year-on-year to RMB890,223,000, driven by a decline in cloud service fees and SaaS subscription fees[55][58] - Revenue from merchant solutions increased by 2.2% year-on-year to RMB597,780,000, in line with GMV growth[59][61] - Revenue from other businesses decreased by 21.3% year-on-year to RMB8,974,000, mainly due to the cessation of catering services[60][62] - Total cost of sales decreased by 13.4% year-on-year to RMB535,055,000 in 2022, primarily due to a 15.1% reduction in transaction costs, a 9.3% decrease in staff costs, and a 22.0% drop in server and SMS costs[65][66] - Gross profit increased by 1.0% year-on-year to RMB961,922,000 in 2022, with the gross profit margin rising from 60.7% in 2021 to 64.3% in 2022[67][68] - Subscription solutions gross profit decreased by 5.3% year-on-year to RMB660,006,000 in 2022, but the gross profit margin improved from 71.5% to 74.1%[69] - Merchant solutions gross profit increased by 17.0% year-on-year to RMB298,902,000 in 2022, with the gross profit margin rising from 43.7% to 50.0%[70] - Other gross profit surged to RMB3,014,000 in 2022 from RMB59,000 in 2021, with the gross profit margin jumping from 0.5% to 33.6%[70] - Selling expenses decreased by 13.4% year-on-year to RMB830,816,000 in 2022, mainly due to reductions in promotion, advertising, and sales staff costs[70] - Administrative expenses decreased by 12.6% year-on-year to RMB293,043,000 in 2022, partially offset by one-off severance packages of RMB92,211,000[70] - Other operating expenses decreased by 48.7% year-on-year to RMB312,268,000 in 2022, primarily due to reduced research and development expenses[71] - Equity-settled share-based payments increased by 65.8% year-on-year to approximately RMB88,068,000 in 2022[72] - Investment and other income decreased by 22.4% year-on-year to approximately RMB49,517,000 in 2022, mainly due to reduced super deduction of value-added tax and bank interest income[72] - Other net gains of approximately RMB36,100,000 were recorded in 2022, compared to net losses of approximately RMB2,186,924,000 in 2021, primarily due to the absence of impairment losses[72] - Finance costs increased by 13.2% year-on-year to approximately RMB25,631,000 in 2022, driven by higher interest expenses from new bank loans[72] - Adjusted loss before interest, tax, depreciation, and amortization (unaudited) improved to RMB339,537,000 in 2022 from RMB876,549,000 in 2021[74] - Adjusted non-HKFRS loss for the year (unaudited) was RMB394,791,000 in 2022, compared to RMB904,037,000 in 2021[75] Merchant Performance and GMV - The company helped merchants achieve GMV of approximately RMB101.4 billion, with non-Kuaishou channel GMV increasing by 19% year-on-year[15] - Average annual sales per merchant exceeded RMB1.2 million in 2022, representing a 9% year-on-year increase[15] - The proportion of targeted merchants increased to 47%, with a renewal rate exceeding 75%[15] - The gross merchandise volume (GMV) generated by merchants through Youzan's solutions reached approximately RMB101.4 billion in 2022, with non-Kuaishou channels growing by 19% year-on-year[47][48] - The GMV of store SaaS business was approximately RMB42.5 billion, accounting for 42% of total GMV, representing a 53% year-on-year increase[47][48] - The average annual sales of a single merchant exceeded RMB1.2 million in 2022, up 9% year-on-year[47][48] - The company had 83,439 paying merchants as of December 31, 2022, with 63% subscribing to e-commerce SaaS and 37% to store SaaS[49] - In 2022, the company added 40,443 new paying merchants, with store SaaS accounting for 50% of new merchants[49][50] Business Model and Strategy - The company aims to transition from SaaS-based system services to comprehensive solution services, focusing on increasing private domain business proportion in customer portfolios[22] - The company upgraded its business model from "store opening marketing solutions" to "private domain operation solutions" in H1 2022[35] - The company focuses on three core customer categories: content monetization, brand DTC, and store digitization[36] - The company provides e-commerce private domain operation solutions focusing on distribution, community, membership, and live streaming scenarios[36] - The company offers "Youzan customer operation solutions" to help merchants connect consumer information and perform precision marketing[36] - Youzan upgraded its business from "store marketing solutions" to "private domain operation solutions," focusing on consumer-centric strategies to enhance online and offline integration and improve end-to-end consumer experience[37] - The company segmented its core customer base into three categories: content monetization, brand DTC, and store digitization, providing tailored solutions for each group[37] - Youzan's product matrix includes Youzan CRM, Youzan WeCom Assistant, Youzan Salespeople Assistant, Youzan Chain, Marketing Canvas, and New Retail Integration Module, aimed at improving marketing and sales capabilities[38] - In 2022, Youzan conducted in-depth annual cooperation with nearly 100 large enterprises across industries such as liquor, FMCG, vehicles, department stores, and beauty products[39] - Youzan Cloud platform has over 3,000 active developers, more than 800 apps launched, and an average of over 500 million daily API visits, with 34 third-party systems integrated[43] - In June 2022, Youzan launched Youzan Jarvis, an AI engine product with five core capabilities (machine learning, NLP, computer vision, deep learning, and knowledge graph) for private domain scenarios[45] - Youzan collaborated with over 300 agents nationwide to promote and sell its products and services in 2022[43] - The company provided customized system services to nearly 300 merchants, focusing on system integration, transaction and marketing expansion, and personalized page display[43] - In early 2023, Youzan adjusted its mall products, upgrading the flagship version to a solution version and launching a supreme version with in-depth private domain operation services[46] - Youzan's service teams improved merchant delivery rates and activity, contributing to higher merchant renewal rates and commercial success[42] Organizational and Operational Changes - The company restructured its organizational structure in early 2022 to optimize business development and collaboration efficiency[33] - 80% of the company's employees are frontline workers directly facing merchants[19] - The Group's employee count decreased to 1,952 as of 31 December 2022, down from 4,494 in 2021, due to rationalization of R&D investment and organizational optimization[122] Cash Flow and Financial Position - The Group's cash and cash equivalents increased to approximately RMB889,944,000 as of 31 December 2022, up from RMB711,527,000 in 2021[113] - The Group's borrowings stood at approximately RMB480,986,000 as of 31 December 2022, compared to no borrowings in 2021[113] - The company successfully placed 810,792,000 shares at HK$0.385 per share, raising net proceeds of approximately HK$309.01 million, which will be used for system upgrades, product development, marketing, strategic investments, and general working capital[139] - Net proceeds from the Placing of New Shares amounted to approximately HK$309.01 million after deducting related costs, fees, expenses, and commission[177] - Approximately HK$211.46 million of the net proceeds was used for system upgrades, product development, and marketing expenses as of December 31, 2022[180] - Approximately HK$23.23 million of the net proceeds was used for potential strategic investments and acquisitions as of December 31, 2022[180] - Approximately HK$23.50 million of the net proceeds was used for the Group's general working capital as of December 31, 2022[180] - The remaining balance of approximately HK$35.75 million is expected to be used for system upgrades, product development, and marketing expenses[180] - The remaining balance of approximately HK$7.67 million is expected to be used for potential strategic investments and acquisitions by June 30, 2023[180] - The remaining balance of approximately HK$7.40 million is expected to be used for the Group's general working capital[180] Impairment and Goodwill - The recoverable amounts of cash-generating units (CGUs) were determined using discounted cash flow method, with a pre-tax discount rate of 20.35% for CGU A and 19.67% for CGU B[79] - The budgeted revenue CAGR for both CGU A and CGU B in the 5-year forecast is 6.37%, with a terminal growth rate of 2.08%[79] - Goodwill allocated to CGU A remains unchanged at approximately RMB341,326,000 (2021: RMB341,326,000)[81] - The recoverable amount for CGU A exceeded its carrying value by approximately RMB211 million (2021: RMB125 million), with no impairment charge deemed necessary[82] - CGU B recorded operating losses of RMB596 million for the year ended 31 December 2022[83] - The recoverable amount for CGU B exceeded its carrying value by approximately RMB161 million, with no impairment charge deemed necessary[83] - The pre-tax discount rate for CGU A decreased to 20.35% (2021: 20.7%)[82] - The pre-tax discount rate for CGU B is 19.67% as of the end of the reporting period[83] - A 10.47% increase in the pre-tax discount rate for CGU A would reduce the headroom to zero[82] - A 3.83% increase in the pre-tax discount rate for CGU B would reduce the headroom to zero[83] - Impairment losses for CGU B in 2021 included RMB1,622,083,000 for goodwill and RMB459,553,000 for intangible assets[86] - The pre-tax discount rate for CGU B in 2021 was 19.16%[86] Management and Board - Ms. Ying Hangyan, aged 41, joined the Company in April 2018 and was appointed as an executive Director and the chief service officer in May 2018, responsible for management of the help center, talent development, and organization operation[92] - Mr. Yu Tao, aged 35, joined the Company in April 2018 and was appointed as an executive Director and CFO in May 2018, responsible for financial planning, management, and investor relations[93] - Dr. Fong Chi Wah, aged 60, has served as an independent non-executive director since December 2003, with over 26 years of experience in the financial industry, including roles at KPMG, AIG, and ING Group[95] - Dr. Fong has been the CFO of Citychamp Watch & Jewellery Group Limited since September 2004 and served as a Non-independent Non-executive Director of Cordlife Group Limited from January 2019 to November 2021[96] - Dr. Fong holds a Bachelor's degree in Management Sciences (Economics) from Lancaster University, three Master's degrees, and a Doctorate in Business Administration from Hong Kong Polytechnic University[97] - Mr. Deng Tao, aged 68, has served as an independent non-executive director since May 2018, with over 27 years of experience in human resources management, including roles at Hewlett-Packard, Maersk Line, and Google[99] - Mr. Li Shaojie, aged 45, has served as an independent non-executive director since March 2022, with about 21 years of experience in internet brand marketing and is the chairman of Rich Flag Sci & Tech Group Co., Ltd[99] - Mr. Huan Fang, aged 34, joined Youzan Group in September 2018 as the chief operating officer, responsible for business data assessment, product commercialization, and market investment, with prior experience at Hillhouse Capital Group[99] - Executive directors Zhu Ning, Cui Yusong, Yu Tao, and Ying Hangyan renewed their service agreements for three years starting from May 2021[186][190] - Independent non-executive director Dr. Fong Chi Wah renewed his appointment for three years starting from 19 December 2021 and has served on the board for over 10 years[191] - Independent non-executive director Deng Tao renewed his appointment for three years starting from 8 May 2021[192] - Independent non-executive director Li Shaojie entered into a three-year appointment starting from 18 March 2022[192] - Directors Zhu Ning, Cui Yusong, Yu Tao, and Ying Hangyan will retire at the forthcoming AGM and are eligible for re-election[192] - The company maintained directors and officers liability insurance during the year[182] Shareholding and Equity - Mr. Zhu Ning holds a total interest of 1,931,771,804 shares, representing 10.49% of the company's shareholding[197] - Mr. Cui Yusong holds a total interest of 270,785,127 shares, representing 1.47% of the company's shareholding[197] - Mr. Yu Tao holds a total interest of 28,848,000 shares, representing 0.16% of the company's shareholding[197] - Ms. Ying Hangyan holds a total interest of 15,852,000 shares, representing 0.09% of the company's shareholding[197] - Dr. Fong Chi Wah and Mr. Li Shaojie each hold 1,000,000 shares, representing 0.01% of the company's shareholding[197] - Whitecrow Investment Ltd., owned by Mr. Zhu Ning, holds 1,440,601,703 shares[198] - Youzan Teamwork Inc., partially owned by Mr. Zhu Ning and Whitecrow, holds 363,170,101 shares[198] - V5.Cui Investment Ltd., owned by Mr. Cui Yusong, holds 241,885,127 shares[198] - Share options granted under the New Share Option Scheme have an exercise price of HK$1.00 and are valid until 30 June 2024[198] - Share options granted under the New Share Option Scheme have an exercise price of HK$0.90 and are valid until 30 June 2024[198] - The company granted 14,450,000 share options to 36 eligible participants at an exercise price of HK$0.385 per share on 20 January 2023[184] - Share Option Scheme 2019 details: Mr. Zhu Ning holds 100,000,000 options at HK$1.00, exercisable from 1 July 2021 to 30 June 2024[132] - Share Award Scheme adopted on 31 May 2018, valid for 10 years, aimed at retaining and attracting talent[134][136] - Company's share premium account amounted to approximately RMB6,420,355,000 as of 31 December 2022, up from RMB6,098,424,000 in 2021[135][137] - No reserves available for distribution to shareholders as of 31 December 2022[135][137] - No purchase, sale, or redemption of listed securities by the company or its subsidiaries during the year[138] Supplier and Customer Relationships - The Group's five largest suppliers accounted for approximately 52.2% of total purchases in 2022, down from 54.3% in 2021, with the largest supplier accounting for 24.0% of total purchases, up from 18.9%

香港交易及結算所有限公司以及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：8083） 截至二零二二年十二月三十一日止年度全年業績公告 中國有贊有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其附屬公司截至 二零二二年十二月三十一日止年度之經審核全年業績。本公告載有本公司二零二二年年報全 文，符合香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）中有關全年業績初步 公告附載資料之相關要求。 承董事會命 中國有贊有限公司 主席 朱寧 香港，二零二三年三月二十三日 於本公告日期，董事會由四名執行董事朱寧先生、崔玉松先生、俞韜先生及應杭艷女士；以及 三名獨立非執行董事方志華博士、鄧濤先生及李少傑先生組成。 本公告之資料乃遵照GEM上市規則而刊載，旨在提供有關本公司之資料；董事願就本公告之 資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知及所信，本公 告所載資料在各重要方 ...

Financial Performance - For the six months ended June 30, 2022, the group recorded revenue of approximately RMB 729,275,000, a decrease of 9.2% compared to the same period last year[3]. - The gross profit for the same period was approximately RMB 441,518,000, down 9.4% year-on-year, with a gross margin of 60.5% compared to 60.7% in the previous year[4]. - The group reported an operating loss of approximately RMB 474,112,000 for the six months, an increase in loss of 5.5% compared to RMB 449,519,000 in the previous year[4]. - The net loss for the six months was approximately RMB 481,795,000, compared to RMB 370,053,000 in the previous year[7]. - The total comprehensive loss for the six months was approximately RMB 473,382,000, compared to RMB 373,305,000 in the previous year[9]. - The total loss for the six months ended June 30, 2022, was RMB 460,696,000, compared to a loss of RMB 417,124,000 in the same period of 2021, indicating a worsening of 10.4%[40]. Revenue Breakdown - The subscription solutions revenue was approximately RMB 283,852,000, a decrease of 1.9% year-on-year, while merchant solutions revenue increased by 28.5% to approximately RMB 136,514,000[3]. - Subscription solutions generated revenue of RMB 439,197 thousand for the six months ended June 30, 2022, compared to RMB 507,808 thousand for the same period in 2021, reflecting a decrease of about 13.5%[28]. - The company’s external customer revenue from mainland China (excluding Hong Kong) was RMB 573,882 thousand for the six months ended June 30, 2022, down from RMB 668,191 thousand in the same period of 2021, a decrease of about 14.1%[29]. - The company’s revenue from merchant solutions for the six months ended June 30, 2022, was RMB 287,439 thousand, compared to RMB 316,019 thousand for the same period in 2021, reflecting a decline of approximately 9.0%[32]. - The company’s revenue from third-party payment services was RMB 78,734 thousand for the six months ended June 30, 2022, with no revenue reported for the same period in 2021[32]. - The company’s revenue from other services was RMB 283,852 thousand for the six months ended June 30, 2022, compared to RMB 289,258 thousand for the same period in 2021, a decrease of about 1.5%[28]. Cash Flow and Liquidity - The cash and cash equivalents totaled approximately RMB 831,809,000, with a current ratio of 0.93[4]. - The company's net cash used in operating activities for the six months ended June 30, 2022, was RMB (558,568) thousand, compared to RMB (355,011) thousand for the same period in 2021, indicating a worsening cash flow situation[16]. - The company reported a net cash inflow from financing activities of RMB 701,416 thousand for the six months ended June 30, 2022, a significant increase compared to RMB 2,293 thousand in the same period of 2021[16]. - The company’s cash and cash equivalents at the end of the period were RMB 831,809 thousand, down from RMB 1,125,095 thousand at the end of June 2021, representing a decrease of approximately 26.1%[15]. - The company reported a net cash outflow from investing activities of RMB (30,879) thousand for the six months ended June 30, 2022, compared to RMB (267,086) thousand for the same period in 2021, indicating a significant improvement in investment cash flow[16]. Assets and Liabilities - As of June 30, 2022, total assets amounted to RMB 4,770,452 thousand, a decrease from RMB 4,903,752 thousand as of December 31, 2021, representing a decline of approximately 2.7%[10]. - The company's total liabilities as of June 30, 2022, were RMB 5,128,341 thousand, compared to RMB 5,097,324 thousand at the end of 2021, showing a slight increase of approximately 0.6%[11]. - The total equity attributable to the owners of the company decreased to RMB 1,140,132 thousand as of June 30, 2022, down from RMB 1,336,823 thousand at the end of 2021, reflecting a decline of approximately 14.7%[11]. - Non-current assets totaled RMB 1,887,259 thousand as of June 30, 2022, down from RMB 1,969,223 thousand as of December 31, 2021, indicating a decrease of about 4.2%[10]. Operational Highlights - The company has plans to control operational costs, including employee costs and advertising expenses, to improve financial performance[18]. - The company plans to continue focusing on expanding its SaaS product offerings and enhancing its third-party payment services in the Chinese market[36]. - The company launched its first AI engine product, Youzan Jarvis, in June 2022, designed specifically for private domain operation scenarios[59]. - The company announced a shift from "store marketing solutions" to "private domain operation solutions" in the first half of 2022, focusing on customer-centric business planning[58]. - The company’s employee count reached 2,633 as of June 30, 2022[59]. Governance and Compliance - The audit committee has been established in accordance with GEM listing rules, consisting of three independent non-executive directors[92]. - The board of directors confirmed compliance with the trading code throughout the reporting period[91]. - The company has adhered to the corporate governance code as per GEM Listing Rules during the reporting period[91]. Shareholder Information - Major shareholder Whitecrow Investment Ltd. holds 1,440,601,703 shares, representing 7.82% of the total shares[82]. - Poyang Lake Investment Limited, a subsidiary of Tencent Holdings, owns 1,036,766,038 shares, accounting for 5.63% of the total shares[82]. - UBS Group holds 933,869,572 shares (5.07%) and has a short position of 221,497,159 shares (1.20%) in the company[82].